Belle Meade Real Estate – monthly market report – June 2021
How is the Belle Meade Real Estate Market Doing?
There are currently 10 homes for sale in Belle Meade (compared to 11 last month):
- Highest priced listing $19.5 Million for the huge open bay property with 480′ of water frontage and 29,452 SF of land which includes 7301 and 7305 Belle Meade Island Dr
- Lowest priced listing is $899,000 for the 3/2 at 674 NE 75th St ($659/SF)
- Pending Sales (Properties under contract): 5
- Median Sales Price in June: $1,075.000
- Closed sales in June: 4 (compared to 3 in May)
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What sold in Belle Meade last month?
For a list of all properties sold in June please email us at BelleMeade@miamism.com
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What is the average price per square foot in Belle Meade?
Belle Meade Waterfront Sales
The average price per square foot for Belle Meade waterfront home in June was $1,497(only one sale), compared to previous months:
- May’s average – $853 (one sale)
- April’s average – $675
- March’s average – no sales
- February’s average – $830
- January’s average – $790/SF
- 2020’s average of $416
Belle Meade Non-Waterfront Sales (Dry Lots)
The average sold price per square foot in Belle Meade for homes not on the water in June was $568, compared to:
- May’s average – $457
- April’s average – $501
- March’s average – $461
- February’s average – $339
- January’s average – $471
- 2020’s average of $921
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Top (and only) 3 Sales in Belle Meade in June (by square footage)
- 1065 Belle Meade Island Dr was the highest price per square foot sale in June, 2021. 3 bedrooms / 3 bathrooms, 2,170 SF on 12, 375 SF lot with 75′ of canal frontage. Listed for $3.249M in April, under contract in less than a week, and selling at full price ($1,497/SF)
- 790 NE 77th Ter – Beautifully renovated, mid-century modern with 3 bedrooms / 2 bathrooms, 1,511 SF on 7,605 SF lot. Listed for $1.1 M in May, under contract in less than a week, selling for $1,075,000 ($711/SF) **cash transaction
- 761 NE 77th St – gorgeous 40’s home with 3 bedrooms / 2 bathrooms, 1,568 SF on 7,800 SF lot. Listed for $895,000 in January, increase to $965,000 then lowered to $945,000, MLS shows 2 contracts that fell through and finally selling at $945,000 ($603/SF)
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Belle Meade Opinion
We provide a comprehensive 3D market report with in-depth data from the last 12 months that you can download HERE.
Some key points you should know:
- Seller’s market with only 3 months of inventory.
- Average Sales Price is $1.4 Million
- Average Discount is 6%
- 2 Sweet spots in sales: homes between $600k-$1.5M and homes above $2 Million.
- 25.5% of all deals are CASH
- 69.6% of buyers are primary residents
- Buyers are not just local and from the U.S., they also come from Colombia, France, Germany and Italy.